February 20, 2004

A Reprieve for Dollar Bulls

Well, this is one way to keep the yen weak without intervening in currency markets. "Japan intensified security at airports, nuclear plants and government facilities today as a precaution against a possible terror attack. The government's heightened alert sent a shiver through global financial markets, knocking the Japanese yen to ten week lows against the dollar. The National Police Agency refused to discuss whether the government had new information about a possible terror strike."


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